CFTC Probes George Santos Over Kalshi Bets As DOJ Denies Investigation
On June 3, 2026, MS NOW reported the Commodity Futures Trading Commission is investigating former Rep. George Santos' Kalshi bets.[1] The Department of Justice told the outlet it is not investigating him.[1]
A source told MS NOW that Santos' Kalshi wagers were flagged to both the CFTC and DOJ, but only the CFTC has an active probe, according to that source and DOJ's on-record denial.[1] In a June 3 X post, Santos called the insider-trading allegations "preposterous," said his legal team was in contact with DOJ, and asked journalists to stop contacting him.[1]
On February 23, Santos publicly said on X he would attend President Trump's February 24 State of the Union.[1] He allegedly then bet on Kalshi that he would not attend, skipped the address and profited from the wager.[1] President Trump commuted Santos' 87-month federal sentence in October 2025 after Santos had begun serving time for wire fraud and aggravated identity theft.[1]
Earlier coverage differed: NPR reported on June 2 that the Justice Department was investigating Santos for insider trading tied to Kalshi activity.[2] MS NOW's report the next day said DOJ told the outlet it was not investigating and that the CFTC had the active probe.[1]
Show source details & analysis (2 sources)
📌 Key Facts
- On June 3, 2026, MS NOW reported that the Commodity Futures Trading Commission is investigating George Santos' Kalshi activity, while the Department of Justice told MS NOW it is not investigating him (Commodity Futures Trading Commission).
- A source told MS NOW that Santos' Kalshi bets were flagged to both the CFTC and DOJ, but that only the CFTC has an active probe according to that source and DOJ's on-record denial (Santos' Kalshi bets).
- MS NOW reported that on February 23, 2026 Santos publicly said on X he would attend President Trump's February 24 State of the Union, then allegedly bet on Kalshi that he would not attend and ultimately skipped the event, profiting from the wager (Kalshi).
- In a June 3, 2026 X statement, Santos called the insider-trading allegations 'preposterous,' said his legal team is in contact with DOJ 'to see what is going on,' and asked journalists to stop contacting him (Santos' X statement).
- The article recaps that President Trump commuted Santos' 87‑month federal sentence in October 2025, after Santos had begun serving time for wire fraud and aggravated identity theft (commuted Santos' 87‑month federal sentence).
📰 Source Timeline (2)
Follow how coverage of this story developed over time
- On June 3, 2026, MS NOW reported that the Commodity Futures Trading Commission is investigating George Santos' Kalshi activity, while the Department of Justice told the outlet it is not investigating him.
- A source told MS NOW that Santos' Kalshi bets were flagged to both the CFTC and DOJ, but only the CFTC has an active probe according to that source and DOJ's on-record denial.
- The article details that on February 23, 2026, Santos publicly said on X he would attend President Trump's February 24 State of the Union, then allegedly bet on Kalshi that he would not attend and ultimately skipped the event, profiting from the wager.
- In a June 3, 2026 X statement, Santos called the insider-trading allegations 'preposterous,' said his legal team is in contact with DOJ 'to see what is going on,' and asked journalists to stop contacting him.
- The piece recaps that Trump commuted Santos' 87‑month federal sentence in October 2025, after Santos had begun serving time for wire fraud and aggravated identity theft.